Ferrovial gains 6.0%, Fraport and TAV Airports add more than 3.0%: Airport Share Wrap
Global airport and supplier shares were sharply higher yesterday as global stock markets traded up on mid-week positivism.
Ferrovial proposes additional dividend payable 01-Jul-2010
In Europe, Spanish Ferrovial, an investor in UK's BAA, surged 6.0%. During trade, Ferrovial proposed that the Shareholders' Ordinary Meeting approve a dividend of EUR0.30 per share out of reserves, in addition to the EUR0.10 interim dividend paid in Dec-2009. This dividend will be payable on 01-Jul-2010. This decision is a continuation of Ferrovial's standard shareholder remuneration policy, supported by the reduction of debt, the performance by the infrastructure group's services, toll roads, construction and airports businesses, and its strategy of rotating mature assets and investing in profitable new projects.
Paris Charles de Gaulle and Orly airports cancel flights in nationwide strike
In France, Paris Charles de Gaulle Airport expected 10% of flights to be cancelled on 27-May-2010, while Paris Orly Airport expected 30% of flights to be cancelled, due to a nationwide strike over the French Government's plans to increase the retirement age past 60. Shares in AdP however, gained 5.4% in trading yesterday.
Elsewhere, Fraport (+3.6%), TAV Airports (+3.6%), Aeroporto di Venezia (+2.7%), Hochtief (+1.7%) and Vienna (+1.3%) were boosted, while Copenhagen closed flat.
Airports call for global coordination
Meanwhile, ACI World Director General, Angela Gittens, stated the European ash crisis highlighted the need for better understanding of the key parameters of airport business management and greater stakeholder collaboration to ensure a sustainable future for the airport sector. ACI, representing airports worldwide, will participate in the establishment of a special Volcanic Ash Task Force formed by ICAO, to examine scientific issues and seek an international approach to the closure of airspace.
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Selected airports daily share price movements (% change): 27-May-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance